Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service is warning preparers and taxpayers alike that scammers have renewed their assault on their personal information. This newest round of IRS impersonation attempts come in…
“Education's purpose is to replace an empty mind with an open one.” - Malcolm ForbesForbes, of course, knew a thing or two about business and taxes. It could be said that we all need to be, well,…
Whether we call them part of the “on-demand platform,” “ride-sharing apps,” or just Uber and Lyft, one term describes it all: big business. And the hottest thing in transportation has grabbed a lot of…
The Internal Revenue Service has acquiesced in the Ninth Circuit court’s decision on a year-old tax case involving unmarried co-owners of real estate.The case involved Charles Sophy and Bruce Voss,…
Read more about IRS Decision May Impact Mortgage Interest Deduction in Some Cases
Usually, the profits your clients earn are taxable. However, if a taxpayer sells their home, they may not have to pay taxes on the money they gain. So we’ve got some tips for taxpayers who are…
Facebook officials failed to answer an IRS summons seeking internal corporate records on one of its offshore tax strategies, according to Bloomberg BNA. It was the seventh consecutive time the…
Now that we’re smack in the middle of summer, it might be a good idea to review some common-sense steps that can help you and your clients make a speedy recovery should a hurricane, tornado or other…
Read more about Be Prepared for Hurricanes and Other Natural Disasters
The Internal Revenue Service has restored its “Get an IP PIN” tool to the IRS.gov website, after concerns about security forced its removal.The Identity Protection Personal Identification Number (IP…
The Treasury Inspector General for Tax Administration (TIGTA) says the IRS gets a mixed report card when it comes to notifying taxpayers an IRS lien has been filed against them.The audit looked at…
It won’t be long until it’s Back-to-School time in many states – and that could mean a sales tax holiday for many shoppers. At least 17 states will have some sort of sales tax holiday period this…
Read more about Analysis Claims Sales Tax Holidays May Not Deliver What They Promise
